Duff & Phelps Investment Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ADVANCED DRAINAGE COM USD0.01	Common Stock	00790R104	24,038,251	152,954	SH		SOLE		152,954	0	0
AECOM	Common Stock	00766T100	10,236,949	99,128	SH		SOLE		99,128	0	0
AES CORP	Master Ltd Part	00130H105	746,453	37,211	SH		SOLE		37,211	0	0
AGREE REALTY CORP	Common Stock	008492100	451,980	6,000	SH		SOLE		6,000	0	0
ALEXANDRIA REAL ESTA REIT	REIT	015271109	5,896,056	49,651	SH		OTR		0	0	49,651
ALLIANT ENERGY CORP	Common Stock	018802108	114,524,882	1,887,047	SH		SOLE		1,887,047	0	0
AMEREN CORPORATION	Common Stock	023608102	132,196,227	1,511,505	SH		OTR	1	1,355,376	118,669	37,460
AMERICAN HOMES 4 R CL A	REIT	02665T306	136,372,835	3,552,301	SH		OTR	1	808,750	732,900	2,010,651
AMERICAN STS WTR CO	Common Stock	029899101	3,549,653	42,618	SH		SOLE		42,618	0	0
AMERICAN TOWER CORP	REIT	03027X100	212,347,978	913,089	SH		OTR	1	456,935	220,612	235,542
AMERICAN WTR WKS CO	Common Stock	030420103	79,661,023	544,728	SH		SOLE		544,728	0	0
AMERICOLD RLTY TR	Common Stock	03064D108	49,564,519	1,753,255	SH		OTR	1	408,025	338,325	1,006,905
AMERN ELEC PWR INC	Common Stock	025537101	62,397,421	608,162	SH		SOLE		608,162	0	0
ARGAN INC	Common Stock	04010E109	606,146	5,976	SH		SOLE		5,976	0	0
ARRAY TECHNOLOGIES	Common Stock	04271T100	179,546	27,204	SH		SOLE		27,204	0	0
AT&T INC	Common Stock	00206R102	67,749,000	3,079,500	SH		SOLE		3,079,500	0	0
ATMOS ENERGY CORP	Common Stock	049560105	118,533,105	854,539	SH		OTR	1	739,115	88,121	27,303
AVALONBAY COMMUNTIES REIT	REIT	053484101	193,093,535	857,241	SH		OTR	1	218,744	179,094	459,403
BADGER METER INC	Common Stock	056525108	13,596,678	62,253	SH		SOLE		62,253	0	0
BCE INC	Common Stock	05534B760	42,329,850	1,216,375	SH		SOLE		1,216,375	0	0
BLACK HILLS CORP	Common Stock	092113109	23,818,464	389,700	SH		SOLE		389,700	0	0
BLOOM ENERGY CORPOR CLASS A COMMON STOCK	Common Stock	093712107	517,007	48,959	SH		SOLE		48,959	0	0
BRIXMOR PROPERTY G COM USD0.01	Common Stock	11120U105	121,360,361	4,356,079	SH		OTR	1	980,001	886,581	2,489,497
BXP INC	REIT	101121101	57,964,671	720,416	SH		OTR	1	183,305	154,500	382,611
CALIFORNIA WTR SVC	Common Stock	130788102	3,445,898	63,554	SH		SOLE		63,554	0	0
CAMECO CORP	Common Stock	13321L108	661,619	13,853	SH		SOLE		13,853	0	0
CANADIAN PACIFIC KC	Common Stock	13646K108	12,226,198	142,794	SH		OTR	1	40,700	77,410	24,684
CENTERPOINT ENERGY	Master Ltd Part	15189T107	147,387,022	5,009,756	SH		OTR	1	4,472,252	396,890	140,614
CHART INDS INC	Master Ltd Part	16115Q308	342,254	2,757	SH		SOLE		2,757	0	0
CHENIERE ENERGY INC	Master Ltd Part	16411R208	126,828,923	705,232	SH		OTR	1	583,606	93,708	27,918
CLEARWAY ENERGY INC CL C COM STOCK $0.01	Common Stock	18539C204	851,370	27,750	SH		SOLE		27,750	0	0
CMS ENERGY CORP	Common Stock	125896100	108,958,570	1,542,667	SH		SOLE		1,542,667	0	0
COMCAST CORP CLASS A	Common Stock	20030N101	45,504,238	1,089,400	SH		SOLE		1,089,400	0	0
COMPANHIA DE SANEAME ADR	ADR	20441A102	26,102,551	1,578,147	SH		SOLE		1,578,147	0	0
CONSOLDTD EDISON INC	Common Stock	209115104	1,996,068	19,169	SH		SOLE		19,169	0	0
CONSTELLATION ENERGY	Common Stock	21037T109	295,123	1,135	SH		SOLE		1,135	0	0
CORE & MAIN INC CLASS A COMMON STOCK	Common Stock	21874C102	22,761,882	512,655	SH		SOLE		512,655	0	0
COUSINS PPTYS INC	Common Stock	222795502	37,538,682	1,273,361	SH		OTR	1	311,920	296,796	664,645
CROWN CASTLE INC	REIT	22822V101	106,154,632	894,838	SH		OTR	1	774,895	91,315	28,628
CSX CORP	Common Stock	126408103	12,503,762	362,113	SH		OTR	1	95,000	203,188	63,925
CUBESMART	REIT	229663109	118,486,774	2,201,129	SH		OTR	1	529,918	450,019	1,221,192
DANAHER CORP	Common Stock	235851102	14,674,452	52,782	SH		SOLE		52,782	0	0
DIGITAL RLTY TR INC	REIT	253868103	208,094,446	1,285,883	SH		OTR	1	300,400	244,575	740,908
DOMINION ENERGY INC	Master Ltd Part	25746U109	71,581,006	1,238,640	SH		SOLE		1,238,640	0	0
DT MIDSTREAM INC	Master Ltd Part	23345M107	21,322,130	271,067	SH		OTR	1	189,067	61,951	20,049
DTE ENERGY CO	Master Ltd Part	233331107	116,512,171	907,345	SH		OTR	1	801,421	79,904	26,020
DUKE ENERGY CORP	Common Stock	26441C204	42,091,187	365,058	SH		OTR	1	250,300	87,032	27,726
EASTGROUP PROPERTIES	Common Stock	277276101	1,069,545	5,725	SH		SOLE		5,725	0	0
ECOLAB INC	Common Stock	278865100	31,889,951	124,897	SH		SOLE		124,897	0	0
EDISON INTL	Common Stock	281020107	35,423,248	406,743	SH		OTR	1	183,600	169,327	53,816
ENBRIDGE INC	Master Ltd Part	29250N105	52,879,581	1,302,132	SH		OTR	1	984,650	241,515	75,967
ENERGY TRANSFER L P COM UT LTD PTN	Master Ltd Part	29273V100	79,422,013	4,948,412	SH		SOLE		4,948,412	0	0
ENPHASE ENERGY	Common Stock	29355A107	2,534,700	22,427	SH		SOLE		22,427	0	0
ENTERGY CORP	Master Ltd Part	29364G103	94,683,524	719,425	SH		OTR	1	648,124	53,960	17,341
ENTERPRISE PRODS	Master Ltd Part	293792107	61,417,501	2,109,842	SH		SOLE		2,109,842	0	0
EQUINIX INC	REIT	29444U700	376,830,002	424,535	SH		OTR	1	156,446	74,413	193,676
ESSENTIAL PPTYS RLTY REIT COM	REIT	29670E107	69,472,882	2,034,345	SH		OTR	1	612,390	535,750	886,205
ESSENTIAL UTILITIES	Common Stock	29670G102	97,632,125	2,531,297	SH		SOLE		2,531,297	0	0
ESSEX PPTY TR INC REIT	REIT	297178105	91,770,746	310,645	SH		OTR	1	83,695	67,730	159,220
EVERGY INC	Common Stock	30034W106	113,022,340	1,822,647	SH		OTR	1	1,649,702	131,498	41,447
EVERSOURCE ENERGY	Common Stock	30040W108	56,947,643	836,850	SH		OTR	1	579,140	195,101	62,609
EXTRA SPACE STORAGE REIT	REIT	30225T102	6,397,286	35,503	SH		OTR		0	0	35,503
FERGUSON PLC ORD GBP0.10	Common Stock	31488V107	8,027,987	40,429	SH		SOLE		40,429	0	0
FIRST SOLAR	Common Stock	336433107	2,905,976	11,650	SH		SOLE		11,650	0	0
FIRSTENERGY CORP	Common Stock	337932107	50,492,475	1,138,500	SH		SOLE		1,138,500	0	0
FLUENCE ENERGY INC COM USD0.00001 CLASS	Common Stock	34379V103	585,010	25,760	SH		SOLE		25,760	0	0
FORTIS INC	Common Stock	349553107	44,663,204	981,900	SH		SOLE		981,900	0	0
FRANKLIN ELEC INC	Common Stock	353514102	7,464,547	71,213	SH		SOLE		71,213	0	0
GAMING&LEISURE PPTYS	REIT	36467J108	37,153,074	722,120	SH		OTR	1	289,845	254,470	177,805
GE VERNOVA INC	Common Stock	36828A101	387,825	1,521	SH		SOLE		1,521	0	0
GFL ENVIRONMENTAL IN SUB VTG SHS	Common Stock	36168Q104	12,399,410	310,918	SH		SOLE		310,918	0	0
GIBSON ENERGY	Master Ltd Part	374825206	782,212	47,579	SH		SOLE		47,579	0	0
GRUPO AEROPORTUARIO ADR	ADR	400501102	2,305,880	34,000	SH		SOLE		34,000	0	0
HEALTHPEAK PROPERTIE COM USD1	Common Stock	42250P103	14,867,513	650,088	SH		OTR	1	249,093	148,385	252,610
HESS MIDSTREAM LP CLASS A SHARE REPRES	Master Ltd Part	428103105	720,531	20,429	SH		SOLE		20,429	0	0
HOST HOTELS & RESRTS REIT	Common Stock	44107P104	48,651,574	2,764,294	SH		OTR	1	701,003	581,149	1,482,142
IDEX CORP	Common Stock	45167R104	9,721,998	45,324	SH		SOLE		45,324	0	0
INVESCO DB COMMODITY INDEX TRAC	ETF	46138B103	1,150,780	51,674	SH		SOLE		51,674	0	0
INVESCO DB MULTI-SEC AGRICULTURE FD	ETF	46140H106	286,990	11,000	SH		SOLE		11,000	0	0
INVITATION HOMES	REIT	46187W107	5,088,935	144,326	SH		SOLE		1,515	0	142,811
IRON MOUNTAIN INC	REIT	46284V101	147,421,211	1,240,606	SH		OTR	1	325,015	254,395	661,196
KEYERA CORP	Master Ltd Part	493271100	32,192,540	1,031,314	SH		SOLE		1,031,314	0	0
KIMCO REALTY CORP	Common Stock	49446R109	101,818,028	4,384,928	SH		OTR	1	1,125,367	952,490	2,307,071
KINDER MORGAN INC	Master Ltd Part	49456B101	36,911,970	1,670,981	SH		SOLE		1,670,981	0	0
KODIAK GAS SERVICES	Master Ltd Part	50012A108	812,000	28,000	SH		SOLE		28,000	0	0
LAMAR ADVERTISING CL A	REIT	512816109	24,087,546	180,296	SH		OTR	1	79,745	48,400	52,151
MID-AMER APT CMNTYS REIT	REIT	59522J103	12,375,132	77,880	SH		OTR	1	44,485	24,575	8,820
MIDDLESEX WATER CO	Common Stock	596680108	2,326,002	35,653	SH		SOLE		35,653	0	0
MP MATERIALS CORP CLASS A COMMON STOCK	Common Stock	553368101	361,048	20,456	SH		SOLE		20,456	0	0
MPLX LP	Master Ltd Part	55336V100	85,962,788	1,933,486	SH		SOLE		1,933,486	0	0
MUELLER WTR PRODS	Common Stock	624758108	8,467,318	390,199	SH		SOLE		390,199	0	0
NEW FORTRESS ENERG CL A COMMON	Master Ltd Part	644393100	2,885,084	317,391	SH		SOLE		317,391	0	0
NEXTERA ENERGY INC	Master Ltd Part	65339F101	199,440,167	2,359,401	SH		OTR	1	1,708,416	496,723	154,262
NEXTRACKER INC COM USD0.0001 CL A	Common Stock	65290E101	651,927	17,394	SH		SOLE		17,394	0	0
NISOURCE INC	Common Stock	65473P105	135,134,168	3,899,976	SH		OTR	1	3,373,315	399,143	127,518
NORFOLK SOUTHERN	Common Stock	655844108	35,003,710	140,860	SH		OTR	1	25,900	87,199	27,761
NORTHWEST NATURAL HL	Common Stock	66765N105	31,817,965	779,470	SH		SOLE		779,470	0	0
OGE ENERGY CORP	Common Stock	670837103	76,739,396	1,870,780	SH		SOLE		1,870,780	0	0
ONE GAS INC	Common Stock	68235P108	42,865,920	576,000	SH		SOLE		576,000	0	0
ONEOK INC	Master Ltd Part	682680103	92,745,462	1,017,727	SH		OTR	1	855,581	123,152	38,994
PEMBINA PIPELINE	Master Ltd Part	706327103	64,825,424	1,570,896	SH		OTR	1	1,285,571	217,358	67,967
PENTAIR PLC	Common Stock	G7S00T104	30,237,841	309,212	SH		SOLE		309,212	0	0
PG&E CORP	Common Stock	69331C108	79,622,370	4,027,434	SH		OTR	1	3,149,835	666,676	210,923
PHILLIPS EDISON & CO COM USD0.01	REIT	71844V201	55,589,442	1,474,130	SH		OTR	1	316,815	325,740	831,575
PINNACLE WEST CAP	Common Stock	723484101	55,362,549	624,930	SH		SOLE		624,930	0	0
PLAINS ALL AMERN PIP UNIT	Master Ltd Part	726503105	37,117,953	2,136,900	SH		SOLE		2,136,900	0	0
PLAINS GP HLDINGS LP CL A SHS LPI	Master Ltd Part	72651A207	1,481,906	80,103	SH		SOLE		80,103	0	0
PLUG POWER INC	Common Stock	72919P202	169,862	75,160	SH		SOLE		75,160	0	0
PPL CORP COM	Common Stock	69351T106	66,791,696	2,019,096	SH		SOLE		2,019,096	0	0
PROLOGIS INC	Common Stock	74340W103	368,339,944	2,916,851	SH		OTR	1	767,890	620,735	1,528,226
PUBLIC STORAGE REIT COMMON	REIT	74460D109	202,020,624	555,200	SH		OTR	1	137,415	107,825	309,960
PUBLIC SVC ENTERPR	Common Stock	744573106	89,778,268	1,006,370	SH		SOLE		1,006,370	0	0
RAYONIER INC	REIT	754907103	2,225,247	69,150	SH		OTR		0	0	69,150
REALTY INCOME CORP	Common Stock	756109104	36,346,953	573,115	SH		OTR	1	319,470	192,674	60,971
REXFORD INDUSTRIAL COM USD0.01	Common Stock	76169C100	104,299,422	2,073,135	SH		OTR	1	567,908	436,550	1,068,677
RYMAN HOSPITALITY	Common Stock	78377T107	65,526,964	611,031	SH		OTR	1	157,535	133,222	320,274
SABRA HEALTHCARE	Common Stock	78573L106	40,639,011	2,183,719	SH		OTR	1	1,025,995	673,705	484,019
SBA COMMUNICATIONS COM USD0.01 CL A	REIT	78410G104	12,083,621	50,202	SH		OTR		0	0	50,202
SCHWAB STRATEGIC T US TIPS ETF	ETF	808524870	353,958	6,600	SH		SOLE		6,600	0	0
SEMPRA	Master Ltd Part	816851109	162,184,579	1,939,311	SH		OTR	1	1,554,493	293,273	91,545
SIMON PPTY INC	Common Stock	828806109	193,022,530	1,142,010	SH		OTR	1	322,655	235,403	583,952
SJW GROUP COM	Common Stock	784305104	1,592,679	27,408	SH		SOLE		27,408	0	0
SOUTHERN CO	Common Stock	842587107	144,352,749	1,600,718	SH		OTR	1	1,338,692	196,750	65,276
SPDR INDEX SHARES S&P GL NAT RES ETF	ETF	78463X541	1,905,994	33,050	SH		SOLE		33,050	0	0
SPDR SERIES TRUST PORTFOLIO INTERMEDIA	ETF	78464A375	12,203,526	362,015	SH		SOLE		362,015	0	0
SPIRE INC COM USD1	Common Stock	84857L101	52,239,919	776,340	SH		SOLE		776,340	0	0
STANTEC INC	Common Stock	85472N109	20,414,629	253,578	SH		SOLE		253,578	0	0
SUN COMMUNITIES	REIT	866674104	82,393,792	609,647	SH		OTR	1	141,459	117,902	350,286
SUNOCO LP/SUNOCO FIN COM UT REP LP	Master Ltd Part	86765K109	5,135,136	95,662	SH		SOLE		95,662	0	0
SUNRUN INC COM USD0.0001	Master Ltd Part	86771W105	754,384	41,771	SH		SOLE		41,771	0	0
TARGA RESOURCES IN	Master Ltd Part	87612G101	89,493,358	604,644	SH		OTR	1	541,615	46,811	16,218
TE CONNECTIVITY	Common Stock	G87052109	447,081	2,961	SH		SOLE		2,961	0	0
TELUS CORP	Common Stock	87971M103	44,785,436	2,666,500	SH		SOLE		2,666,500	0	0
TERRENO RLTY CORP	Common Stock	88146M101	456,115	6,825	SH		SOLE		6,825	0	0
TETRA TECH INC	Common Stock	88162G103	29,756,074	630,960	SH		SOLE		630,960	0	0
THERMO FISHER SCI	Common Stock	883556102	16,142,821	26,097	SH		SOLE		26,097	0	0
TRANSCANADA PIPELINE COM	Master Ltd Part	87807B107	83,874,158	1,763,915	SH		OTR	1	1,309,512	345,115	109,288
UNION PAC CORP	Common Stock	907818108	46,637,467	189,214	SH		OTR	1	33,600	118,494	37,120
VALMONT INDS INC	Common Stock	920253101	7,268,757	25,069	SH		SOLE		25,069	0	0
VANECK ETF TRUST GOLD MINERS ETF	ETF	92189F106	880,022	22,100	SH		SOLE		22,100	0	0
VENTAS INC	Common Stock	92276F100	182,549,636	2,846,556	SH		OTR	1	663,300	561,125	1,622,131
VERALTO CORPORATION	Common Stock	92338C103	29,645,025	265,019	SH		SOLE		265,019	0	0
VERIZON COMMUNICATIO	Common Stock	92343V104	60,156,451	1,339,489	SH		SOLE		1,339,489	0	0
VICI PPTYS INC COM	REIT	925652109	26,550,468	797,072	SH		OTR	1	312,931	197,497	286,644
VODAFONE GRP PLC ADR	ADR	92857W308	7,837,644	782,200	SH		SOLE		782,200	0	0
VORNADO RLTY TR SH BEN INT REIT	REIT	929042109	67,935,529	1,724,252	SH		OTR	1	419,955	350,040	954,257
WASTE MANAGEMENT INC	Common Stock	94106L109	11,262,300	54,250	SH		SOLE		54,250	0	0
WATTS WATER TECH CLASS A	Common Stock	942749102	7,513,124	36,262	SH		SOLE		36,262	0	0
WEC ENERGY GROUP INC	Common Stock	92939U106	131,367,549	1,365,851	SH		OTR	1	1,244,045	92,613	29,193
WELLTOWER OP INC	Common Stock	95040Q104	324,850,007	2,537,296	SH		OTR	1	561,577	453,650	1,522,069
WESTERN MIDSTREAM PA COM UNITS REP LTD PT	Master Ltd Part	958669103	27,114,212	708,683	SH		SOLE		708,683	0	0
WEYERHAEUSER CO	Common Stock	962166104	10,382,627	306,634	SH		OTR		0	0	306,634
WILLIAMS COS INC	Master Ltd Part	969457100	97,054,411	2,126,055	SH		OTR	1	1,720,848	309,402	95,805
XCEL ENERGY INC	Common Stock	98389B100	129,062,250	1,976,451	SH		SOLE		1,976,451	0	0
XYLEM INC	Common Stock	98419M100	61,112,958	452,588	SH		SOLE		452,588	0	0
ZURN ELKAY WATER SOL	Common Stock	98983L108	11,978,191	333,283	SH		SOLE		333,283	0	0